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Eastman (EMN) Boosts Tertiary Amine Capacity in Ghent & Pace
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Eastman Chemical Company’s (EMN - Free Report) care additives business recently announced the conclusion of significant expansion of its tertiary amine capacity, mainly DIMLA 1214, at both its Ghent, Belgium, and Pace, FL, manufacturing plants.
Tertiary amines add crucial efficacy to various surfactants used in home care products, such as liquid dish soap, hard surface cleaners, and antibacterial wipes and sprays as well as other industrial applications. The company has been witnessing an exponential rise in demand for tertiary amine, partly on account of changes in consumer habits due to the pandemic.
The latest expansion demonstrates Eastman’s commitment to safety as well as the company’s high level of engineering prowess. While the latest Ghent expansion has resulted in a surge in capacity, the Pace expansion has boosted production flow, making it the world’s largest tertiary amine unit.
Eastman is highly grateful to its engineering staff and manufacturing teams that have completed the projects safely in an expedited time despite the pandemic. These significant investments showcase the company’s strong commitment to its home and personal care customers. Being one of the world’s leading producers of tertiary amines, these expansions will greatly enhance the company’s service level while allowing it to fulfill customer demand.
Eastman’s care additives segment caters to numerous markets like personal and home care, pharmaceutical ingredients, food and beverage, crop protection, water treatment, and specialty additives, with a wide range of solutions.
Shares of Eastman have gained 10.9% in the past year compared with a 7.1% rise of the industry.
Image Source: Zacks Investment Research
In its fourth-quarter earnings call, Eastman stated that it envisions market demand to remain strong moving ahead. It also expects to benefit from innovation and market development initiatives as well as a significantly lower cost structure as it continues to implement its operations transformation program and has considerably lowered manufacturing maintenance costs.
This Zacks Rank #3 (Hold) company expects revenues in 2022 to improve on a year-over-year basis. EMN expects adjusted earnings per share of $9.50-$10 for 2022. It also anticipates operating cash flow to be more than $1.6 billion for this year.
3 Key Picks
Some better-ranked stocks worth considering in the basic materials space include Albemarle Corporation (ALB - Free Report) , Commercial Metals Company (CMC - Free Report) and AdvanSix Inc. (ASIX - Free Report) .
Albemarle, currently sporting a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of 51.5% for 2022. The Zacks Consensus Estimate for Albemarle’s 2022 earnings has been revised upward by 32 cents in the past 60 days. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Albemarle beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 22.1%. ALB has rallied around 33.7% in a year.
Commercial Metals, flaunting a Zacks Rank #1, has a projected earnings growth rate of 62% for the current fiscal year. The consensus estimate for Commercial Metals’ current fiscal-year earnings has been revised upward by $1.62 in the past 60 days.
Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters, missing once. It has a trailing four-quarter earnings surprise of 13.1%, on average. CMC has rallied around 54.4% in a year.
AdvanSix has a projected earnings growth rate of 7.9% for 2022. The Zacks Consensus Estimate for AdvanSix’s 2022 earnings has been revised upward by 26 cents in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has rallied 64.4% in a year. It currently sports a Zacks Rank of 1.
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Eastman (EMN) Boosts Tertiary Amine Capacity in Ghent & Pace
Eastman Chemical Company’s (EMN - Free Report) care additives business recently announced the conclusion of significant expansion of its tertiary amine capacity, mainly DIMLA 1214, at both its Ghent, Belgium, and Pace, FL, manufacturing plants.
Tertiary amines add crucial efficacy to various surfactants used in home care products, such as liquid dish soap, hard surface cleaners, and antibacterial wipes and sprays as well as other industrial applications. The company has been witnessing an exponential rise in demand for tertiary amine, partly on account of changes in consumer habits due to the pandemic.
The latest expansion demonstrates Eastman’s commitment to safety as well as the company’s high level of engineering prowess. While the latest Ghent expansion has resulted in a surge in capacity, the Pace expansion has boosted production flow, making it the world’s largest tertiary amine unit.
Eastman is highly grateful to its engineering staff and manufacturing teams that have completed the projects safely in an expedited time despite the pandemic. These significant investments showcase the company’s strong commitment to its home and personal care customers. Being one of the world’s leading producers of tertiary amines, these expansions will greatly enhance the company’s service level while allowing it to fulfill customer demand.
Eastman’s care additives segment caters to numerous markets like personal and home care, pharmaceutical ingredients, food and beverage, crop protection, water treatment, and specialty additives, with a wide range of solutions.
Shares of Eastman have gained 10.9% in the past year compared with a 7.1% rise of the industry.
In its fourth-quarter earnings call, Eastman stated that it envisions market demand to remain strong moving ahead. It also expects to benefit from innovation and market development initiatives as well as a significantly lower cost structure as it continues to implement its operations transformation program and has considerably lowered manufacturing maintenance costs.
This Zacks Rank #3 (Hold) company expects revenues in 2022 to improve on a year-over-year basis. EMN expects adjusted earnings per share of $9.50-$10 for 2022. It also anticipates operating cash flow to be more than $1.6 billion for this year.
3 Key Picks
Some better-ranked stocks worth considering in the basic materials space include Albemarle Corporation (ALB - Free Report) , Commercial Metals Company (CMC - Free Report) and AdvanSix Inc. (ASIX - Free Report) .
Albemarle, currently sporting a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of 51.5% for 2022. The Zacks Consensus Estimate for Albemarle’s 2022 earnings has been revised upward by 32 cents in the past 60 days. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Albemarle beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 22.1%. ALB has rallied around 33.7% in a year.
Commercial Metals, flaunting a Zacks Rank #1, has a projected earnings growth rate of 62% for the current fiscal year. The consensus estimate for Commercial Metals’ current fiscal-year earnings has been revised upward by $1.62 in the past 60 days.
Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters, missing once. It has a trailing four-quarter earnings surprise of 13.1%, on average. CMC has rallied around 54.4% in a year.
AdvanSix has a projected earnings growth rate of 7.9% for 2022. The Zacks Consensus Estimate for AdvanSix’s 2022 earnings has been revised upward by 26 cents in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has rallied 64.4% in a year. It currently sports a Zacks Rank of 1.